Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, has successfully obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This ...
Foreign-sourced disposal gains subject to tax from Jan 1
Foreign-sourced disposal gains will be subject to tax in Singapore from Jan 1, 2024 if received by entities of multi-national enterprise groups that do not have economic substance here. Read more at ...
Singapore money-laundering probe not done ‘at the behest of China’: minister
Minister Josephine Teo dispelled as ‘completely untrue’ reports that Singapore went ahead with the raid soon after Chinese Foreign Minister Wang Yi’s visit in August.
Crypto Liquidity Provider GSR Scales through Regulatory Hurdle, Secures Approval in Singapore
The regulatory compliance efforts of crypto trading firm and liquidity provider GSR in Singapore may have finally paid off.
Singapore tables amendment bills for law training, tax relief, CPF
THREE bills to make amendments to legislation – for the training regime for lawyers, income tax relief and Singapore’s Central Provident Fund (CPF) – were introduced in Parliament on Tuesday (Oct 3).
Chee Hong Tat on Income Tax (Amendment) Bill
Senior Minister of State for Finance Chee Hong Tat said the aim is not to tax capital gains but to align key areas of Singapore’s tax regime with international norms. The Bill also proposes to mandate ...
Explainer: How Singapore’s anti-money laundering rules tackle the scourge of ‘dirty money’ on different fronts
SINGAPORE: In the wake of one of the biggest money laundering probes in Singapore, three ministerial statements were delivered in parliament on Tuesday (Oct 3) to address a bevy of parliamentar ...
Singapore considers money-laundering checks for luxury cars and handbags
Singapore may subject luxury assets, including cars, watches and handbags, to anti-money laundering controls as the Asian financial hub reels from a S$2.8bn (US$2bn) money-laundering scandal.
SingPost Powering eCommerce Logistics for SHEIN in Singapore
SHEIN can therefore tailor its services to better meet the specific needs of their customers in Singapore. SingPost will be enhancing SHEIN's business with a comprehensive suite of eCommerce logistics ...
One or more in $2.8b money laundering case may be linked to family offices that got tax incentives
SINGAPORE - One or more of the accused in the recent money laundering case may have been linked to single family offices (SFOs) that had been awarded tax incentives by the Monetary Authority of ...
Singapore’s alleged launderers may be tied to family offices
may have been linked to single family offices that were awarded tax incentives, minister of state Alvin Tan said in parliament on Tuesday. Singapore has seen an influx of family offices — set up by ...
Singapore awards major payment institution license to Sygnum Bank subsidiary
Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, received a license to offer crypto brokerage services to accredited investors and institutions in Singapore.
New inter-ministerial committee to review and strengthen Singapore’s anti-money laundering regime
Where gaps are identified, we will tighten our regulations and enforcement to prevent exploitation by criminals,” says Second Minister for Finance and National Development Indranee Rajah.
Singapore seen holding monetary policy in delicate balancing act
Meanwhile, the trade-reliant nation's industrial output and non-oil exports have contracted for an 11th consecutive month, as global demand falters. Singapore is often seen as a bellwether for global ...
Crypto liquidity provider GSR receives regulatory approval in Singapore
An MPI license allows institutions to provide crypto and fiat-related services to residents of Singapore. Licensed firms are authorized to conduct payment services without being subjected to single transaction limits of 3 million Singaporean Dollars ($2.2 ...
Jail for engineering firm boss in Singapore who forged invoices of over S$1m; claims he was helping friend lower tax bill
A sole proprietor of an engineering company was today sentenced to 30 weeks’ jail after pleading guilty to five counts of forging invoices amounting to ...